Kim Teck Cheong jumps 16% on getting exclusive right to use Gardenia trademark in Sabah, Sarawak and Indonesia

KUALA LUMPUR (Jan 23): Shares in Kim Teck Cheong Consolidated Bhd (KTC) jumped 16.13% this morning after the firm said it had obtained the exclusive right to use the Gardenia trademark in Sabah, Sarawak and Indonesia, after inking two separate licence agreements with the registered trademark holders.

At 9.31m, KTC rose 2.5 sen to 18 sen, valuing it at RM91.85 million.

The first agreement will enable its wholly-owned Gardenia Bakeries (East Malaysia) Sdn Bhd to operate the business of manufacturing bread, cakes and ice cream under the trademark, as well as to transport, supply and distribute the same in Sabah and Sarawak.

The second agreement, meanwhile, means Gardenia Bakeries can do the same business in Indonesia, and will allow the company to further expand its portfolio of distribution of third party brands and products across the country.

Source : The Edge Markets

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